Amazon Prime now has 200 million shoppers in the US, up 6% from last year, according to new data from Consumer Intelligence Research Partners. However, that doesn’t mean there are 200 million Prime subscriptions — which go for $139 a year — since multiple people in a household can share the same membership. Amazon recently added free same-day grocery delivery for many Prime subscribers, in hopes of getting more Americans to fork over that annual fee.
Long-term unemployment in the US has risen to a postpandemic high
The number of Americans who’ve been unemployed for over 27 weeks hit 1.9 million in August.
Elon Musk’s $1 billion purchase of Tesla shares sent the stock soaring this morning — along with his personal wealth. Bloomberg’s Matt Levine calculated that the share price rise thanks to Musk’s purchase was enough to raise the total value of his stock by $17 billion.
However, as Levine also pointed out, it’s not as if Musk will realize that gain any time soon:
“If you could spend $1 billion to make yourself $17 billion richer, and then cash out that $17 billion, that would be an amazing trade and you should do it all day long. But in practice, if buying $1 billion of stock makes your stock go up by $17 billion, then selling that $17 billion of stock will make your stock go down by much more.”
More Americans are out of work longer, as employers hold back on both hiring and firing
Recurring jobless claims just hit their highest level since late 2021.
America’s homes, and the people who buy them, are getting older
A shortage of new construction is pushing buyers toward aging homes — and they’re not as affordable as they used to be.
Student loan delinquencies hovered near zero during Covid — but a spike may be coming
With payments due again, nearly 10 million borrowers could fall into default within months.
Consumer sentiment hits historic low as inflation fears hit 44-year high
Tariff uncertainty is sending inflation concerns to their highest point since the early ’80s.
A near record-low number of Americans feel their income taxes are “fair” this season
As the old adage popularized by Benjamin Franklin reminds us, nothing in life is certain except death and taxes, though that doesn’t mean that anyone’s ever been thrilled about either. Now, with this year’s IRS filing deadline tomorrow, a near record share of Americans say their income taxes are “not fair” this season, per recent Gallup polling.
According to the survey from March, just 46% of Americans said they felt that the income tax they’ll pay this year is “fair” — just above the record low of 45% set in 1999. Meanwhile, half of respondents said that they felt the exact opposite, with that cohort having risen steadily from the 35% mark seen as recently as 2017. Some 59% of respondents said that the amount of income tax they pay is “too high,” with a record 58% saying that lower-income people pay “too much.”
According to the survey from March, just 46% of Americans said they felt that the income tax they’ll pay this year is “fair” — just above the record low of 45% set in 1999. Meanwhile, half of respondents said that they felt the exact opposite, with that cohort having risen steadily from the 35% mark seen as recently as 2017. Some 59% of respondents said that the amount of income tax they pay is “too high,” with a record 58% saying that lower-income people pay “too much.”
Baby boomers bought more homes than millennials did last year
As multigenerational home purchases rise, wealthy baby boomers are now buying homes more than younger generations — often with cash.